Psycho

2024

<div class="dailyhodl">
 A closely followed crypto analyst thinks market participants will seek shelter in a group of altcoins following last week’s marketwide dip.
 Pseudonymous analyst Altcoin Psycho tells his 501,200 followers on the social media platform X that he sees investors rotating funds into crypto assets with at least $1 billion market caps.
 <div class="code-block code-block-055f5289fd7e731bb72be7c5a19d18ed code-block-1">  
 </div>
 According to the analyst, the market meltdown in the past few days is making investors think twice about accumulating speculative altcoins.
 “In my opinion, this wipeout results in a flight to quality from here for altcoins. Once the market can sustain a bid, we’ll likely see mid/high-cap alts run first.”
 The analyst also names three crypto subsectors that he thinks could be a game-changer for the digital asset industry.
 “I think most of [artificial intelligence-focused crypto projects are] vaporware, like 99%, but I think the 1% will change this industry far more than any other vertical with the exception of RWAs (tokenized real-world assets) and stablecoins.”
 He also reiterates that artificial intelligence (AI) remains his top play for the 2024 bull market.
 “Wrote in my 2024 predictions that AI is my highest conviction bet. Shocked that it’s now a contrarian take, only makes me more bullish though.”
 Earlier this month, Altcoin Psycho said that AI crypto projects are still undervalued in comparison to the market cap of two of the largest memecoins.
 “Entire (crypto) AI vertical is ~$40 billion market cap. Doge alone is $27 billion. Shiba another ~$15 billion. Feels weird saying this, but AI tokens are still undervalued.”
 At time of writing, the top AI coins in the crypto space have a collective market cap of $20.57 billion, according to CoinGecko.
</div>
Source: <a rel="noopener noreferrer nofollow" target="_blank" href="https://thebittimes.com/this-altcoin-group-will-run-first-after-market-wipeout-as-capital-takes-flight-to-quality-says-crypto-strategist-tbt85543.html">https://thebittimes.com/this-altcoin-group-will-run-first-after-market-wipeout-as-capital-takes-flight-to-quality-says-crypto-strategist-tbt85543.html</a>

This Altcoin Group Will Run First After Market Wipeout As Capital Takes Flight to Quality, Says Crypto Strategist

TheBitTimes

Other articles published on Apr 17, 2024

Earn daily passive income safely and stably on the blockchain with ARKMining

Abra Introduces new platform for private and institutional clients

Bitcoin ETF Inflows Surpassed by GBTC Outflows for Third Straight Day

Abra to Launch New Platforms for Private and Institutional Customers

Dubai Flood Prompts Blockchain Life 2024 To Facilitate Airdrop For Participants

Bitcoin Must Surpass $57K Threshold for Post-Halving Surge, Says Trader

Join our free newsletter for daily crypto updates!